Some embodiments include an exterior insulated finish wall assembly including an exterior panel member, an insert member, and a drainage channel. The exterior panel member includes a rigid insulative substrate and a base coat selectively disposed on the rigid insulative substrate. The rigid insulative substrate includes a body portion and a tail portion extending from the body portion. A recess is defined by a sloped surface and a back surface of the tail portion. The insert member is configured to be disposed within the recess. The insert member is sized and shaped to correspond to the recess. The insert member includes a rigid insulative substrate and a base coat selectively disposed on the rigid insulative substrate. The drainage channel is defined between the tail portion and the insert member.